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28302

ZIPSAFMR
Cumberland County, NC
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ZIP Investment Score

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095130300
BRFMR
Eff. Rent
0 BR$1,310$1,150
1 BR$1,340$1,080
2 BR$1,480$1,120
3 BR$1,940$1,570
4 BR$2,390$2,010
5 BR$2,749Not available
6 BR$3,161Not available
7 BR$3,635Not available
8 BR$4,180Not available

Purchase Price Calculator

Maximum purchase price
$104,515

Cost breakdown

+Likely effective rent$1,120
HUD FMR$1,480
Market rentUsed$1,120
Est. payment standard (90%)$1,330
-Principal and interest-$528
Loan amount$83,612
Down payment$20,903
Rate6.50%
Term30 years
-Operating costs-$392
Property taxes-$105
Insurance-$175
Utilities$0
HOA$0
Management-$112
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$18,232(87.2% ROI)
Projected value
$112,551
Return breakdown
Property appreciation+$8,036
Loan principal paid down+$2,996
Rental cash flow+$7,200
5-year hold
+$31,076(148.7% ROI)
Projected value
$118,249
Return breakdown
Property appreciation+$13,734
Loan principal paid down+$5,342
Rental cash flow+$12,000
10-year hold
+$66,002(315.8% ROI)
Projected value
$133,788
Return breakdown
Property appreciation+$29,273
Loan principal paid down+$12,729
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.14
1 BR
1.24
2 BR
1.32
3 BR
1.24
4 BR
1.19
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
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Tax rate
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Mortgage rate
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ZIP 28302 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 28302 (Fayetteville, NC) is $1,480 a month. That is up 18.4% from $1,250 in FY 2026. Fayetteville is in the Fayetteville, NC HUD Metro FMR Area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the metro-wide two-bedroom FMR of $1,476. Among 28 ZIP codes in Cumberland County, 28302 is tied for the 8th-highest two-bedroom rent (county range $1,130–$1,760). The median county two-bedroom FMR in North Carolina is $1,145, so ZIP 28302 is 29% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 28302
BedroomsFY 2027Change90–110% range
Studio$1,310+20.2%$1,179–$1,441
1BR$1,340+20.7%$1,206–$1,474
2BR$1,480+18.4%$1,332–$1,628
3BR$1,940+16.2%$1,746–$2,134
4BR$2,390+15.5%$2,151–$2,629

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 28302
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,310$1,340$1,480$1,940$2,390
FY 2026$1,090$1,110$1,250$1,670$2,070
FY 2025$1,080$1,090$1,240$1,680$2,080
FY 2024$1,120$1,120$1,290$1,760$2,190
FY 2023$900$900$1,040$1,430$1,770

Two-bedroom rent in nearby Cumberland County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 28302
28301$1,250−15.5%
28302Current$1,480—
28303$1,470−0.7%
28304$1,710+15.5%
28305$1,340−9.5%
28306$1,270−14.2%
28307$1,760+18.9%
28308$1,490+0.7%
28309$1,4800.0%
28310$1,560+5.4%
28311$1,500+1.4%
28312$1,190−19.6%

Questions about ZIP 28302 rents

How much will Section 8 pay for a two-bedroom in ZIP 28302?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the metro-wide two-bedroom FMR of $1,476, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,328 to $1,624 a month; under the ZIP-level Small Area FMR of $1,480 it would be $1,332 to $1,628. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.

Which HUD fair market rent area is ZIP 28302 in?

ZIP 28302 is in the Fayetteville, NC HUD Metro FMR Area. Small Area FMRs are optional here; the metro-wide two-bedroom FMR is $1,476.

How much did fair market rent change in ZIP 28302 for FY 2027?

The two-bedroom FMR rose 18.4%, from $1,250 in FY 2026 to $1,480 in FY 2027. Since FY 2023 it has risen 42.3%.

When do FY 2027 fair market rents take effect?

HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.

Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set